Buy, Build or Partner?

Build

Building in-house capabilities is almost always the first option explored by a large business. In theory if done well, it can deliver a proposition that fits exactly with the needs of the organisation, it can also be cheaper and delivered more quickly than other choices. Most importantly, it can provide a competitive advantage as (in principle, at least), no competitor will have an identical proposition.

Buy

Another popular route to digital innovation is to buy or invest in a firm with the right expertise. Acquiring a going concern has a number of pros and cons:

Partner

One of the most far-reaching outcomes of the digital age is fragmentation. Increasingly, smart individuals are willing and able to set up small firms that provide product and services that are equivalent or superior to those provided by their much larger competitors. These firms, based on the creative coupling of the entrepreneurial skills of their founders and an intelligent use of technology, can be great partners for larger businesses seeking digital innovation.

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Alessandro Hatami

Alessandro Hatami

“Innovation is meaningless without implementation.” Opinionated corporate innovator. Founder of www.Pacemakers.io https://uk.linkedin.com/in/aehatami